Maastricht debt level for 2009: €1.762 trillion, or 73.2% of GDP
According to calculations by the Deutsche Bundesbank, the debt of general government in Germany (central, state and local government and social security funds) as defined in the Maastricht Treaty amounted to approximately €1,762 billion, or 73.2% of gross domestic product, at the end of 2009. The debt level thus increased by €116 billion and the debt ratio by 7 percentage points on the year.
Of this sharp rise in debt, €45 billion is attributable to support measures for financial institutions in connection with the financial market crisis. Such measures accounted for a cumulative total of €98 billion of the debt in 2008 and 2009. However, the impact on the general government deficits was limited as a sizeable increase in government financial assets was recorded simultaneously.
Under the European budgetary surveillance procedure, the member states of the European Union are obliged to submit data on their general government deficit and debt levels to the European Commission twice a year (end of March and end of September). For this purpose, the Federal Statistical Office calculates the Maastricht deficit (3.3% of GDP in 2009) while the Bundesbank calculates the Maastricht debt level (consolidated gross indebtedness).
An article on the longer-term development of general government debt and interest burdens in Germany is contained in the Bundesbank's Monthly Report for April, the German-language version of which is published today.
|Table Debt level|
|Debt level (€ billion )||1,384||1,454||1,524||1,572||1,579||1,646||1,762|
|as % of GDP||63.9||65.8||68.0||67.6||65.0||66.0||73.2|